US-China trade booms, despite tariffs and tension

Commerce between China and the US is the most intense it has been in recent years as if the tariff war and pandemic didn’t exist. Eighteen months after the Trump administration signed the trade agreement with China, the US trade deficit has not narrowed, most tariffs are still in effect, and negotiations have not opened on other economic issues. The pact served as a truce.

Bilateral trade in goods has been a stable area in a relationship that continues to deteriorate on other issues such as tension over Hong Kong, Taiwan, human rights, origins of the Covid-19 pandemic, accusations of hacker attacks, and many sore spots.

Monthly bilateral trade dropped to $19 billion in February last year amid Chinese factory closures but rallied to new records over the last 12 months, according to official Chinese data. And that boom is set to continue since China has been buying millions of tons of agricultural products from the US for this year and next. In addition, consumers in the US still buy and import products at record values.

Source: Valor Econômico

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https://valor.globo.com/mundo/noticia/2021/07/23/comercio-eua-china-dispara-apesar-de-tarifas-e-tensao.ghtml

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